John Elway doesn’t like the word rebuild because it “sounds like an excuse.” The team’s standards are still the same, and its long-held goal to always try to vie for a Super Bowl remains in place, he says.

But the reality is the Broncos have gone 20-28 since Super Bowl 50, have failed to return to the playoffs and are indeed in need of a rebuild, revamp, reset, redo or whatever you want to call it.

To start, they hired former Bears defensive coordinator Vic Fangio to replace Vance Joseph, who guided the Broncos to their first back-to-back losing seasons in 46 years. But the move is just the beginning of what figures to be a significant makeover.

They still face a number of difficult decisions with veteran players, they don’t have a clear answer at quarterback, still need an offensive coordinator, still need improvement on the offensive line, could really use some help on a defense that once ranked among the league’s best, might be looking at yet...